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Back You are here: Home Property Buying, Selling, Renting Buying a Second Home in Bulgaria

Buying a Second Home in Bulgaria

Have you dreamed of owning your own holiday home in a place where the pace of life is relaxed, the countryside picturesque and the cost of living, so low that it’s cheaper to be on holiday than stay at home? A second home in Bulgaria will give you all of these possibilities and with financial markets the way they are investing here is a sound choice to leaving your money in the bank or on the stock market.

Consider Your Needs

Whilst buying a second home is a sound investment strategy for the future, you need to be clear about what you expect from it. If you are looking to make money fast then buying in Bulgaria or indeed any market at the moment is not a good option. When you are considering buying a second home in Bulgaria you have time on your side because you don’t have to sell your primary home or think about shipping your contents to another country. You can put your effort into researching what will best suit your needs – a rural retreat in the mountains of a frontline pad on the beach, whatever your taste Bulgaria has something to suit everyone, but you need to define what you want very carefully because once you have bought, you will not be able to change it for some time. Remember to weigh up the pros and cons of each location. If you are buying so that other family members can enjoy endless holidays there, consider what they will need too particularly if they have children. Take into consideration how often you intend to visit and check out the flight options from your home destination.


Unless you consider DIY the perfect way to unwind, you may want to steer clear of buying a property, which needs renovation work. That said,they do offer excellent value and if you get a reliable builder in to do the work for you then it makes for a good investment, but do not buy with the idea of renovating during your holidays, this is not a pleasant task when you have time against you and certainly not relaxing. Working in this piecemeal fashion means that it will take years before you finish and you could grow to resent the home you bought because you associate it with endless hours of hard labour. Likewise, buying a property with a huge garden in need of landscaping is not a good option unless you have the money to get someone in to take care of this. Gardening in the hot Bulgarian sun is no fun especially when you are supposed to be on vacation.

Turning a Profit

Profit from the sale of second homes is generated over a long period of time - it makes for a good retirement investment especially for those who are still in their 40’s. It is also a great way to pass on your wealth to your children and grandchildren with far lower levels of inheritance tax payable in Bulgaria compared to the UK. Off plan properties are a good buy because the entry levels tend to be lower when the development is still in the planning stages compared to when it is built. Shop around too, with the cooling off of worldwide real estate there are many bargains to be had in the Bulgarian market; lots of sellers are lowering their prices to attract foreign buyers – prices are now at the levels they were in 2007 and still set to fall. If you are buying purely for investment then a city residence in Sofia or Varna are good bets, but if it is more for enjoyment then buying in the resorts offers a sound investment strategy.

Rental Options

One way to increase your investment’s value is to buy to let. If this is something that interests you, then you need to forget about what you would like personally and think about what will offer the best rental returns. In this case you should consider buying a one bedroom apartment in one of the cities – the capital offers the best returns here, but you need to investigate locations and choose the most central and scenic. Alternatively if you want to combine a rental income with the odd holiday for yourself, then choose a front line apartment by the beach or next to the lifts in the ski resorts. Golf property also offers a solid investment; the sport is set to grow in popularity and most courses will only be open to those people who stay in the property on site, so buying on a golf complex will virtually guarantee a good level of rentals.


Additional Costs

Once you own your home in Bulgaria you need to consider the additional costs associated with its upkeep. If you own the property for 20 years, chances are that you will need to put a new roof on. Annual property taxes can amount to 600 lv. a year depending on what you paid for your property and most apartment complexes have annual service charges. You also need to think of how you are going to maintain the property from afar. If it has land attached you will need a gardener and if it is unused you should subscribe to one of the security companies who will ensure that you are not broken into whilst you are away.